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The African Free Trade Zone announced at the EAC-SADC-COMESA Summit (also known the AFTZ Summit and Tripartite Summit) effectively is the realization of a dream more than a hundred years in the making, a trade zone spanning the length of African continent from Cape to Cairo, from North African Egypt all the way to the southernmost tip of Africa ...
The African Continental Free Trade Area (AfCFTA) [11] is a free trade area encompassing most of Africa. [12] [13] [14] It was established in 2018 by the African Continental Free Trade Agreement, which has 43 parties and another 11 signatories, making it the largest free-trade area by number of member states, after the World Trade Organization, [15] and the largest in population and geographic ...
Stage 4: In March 2018, 49 African countries signed the African Continental Free Trade Agreement paving the way for a continent-wide free trade area. The continental free trade area became operational in July 2019, after 22 ratifications. [3] [4] As of 2021, 34 signatories have effectively become parties of the treaty. Stage 5: no progress yet
Malta and parts of France, Italy, Portugal, and Spain are located on the African continental plate, some considerably closer to the African mainland than the European mainland but, politically, are generally considered to be European by convention. Egypt, although extending into Asia through the Sinai Peninsula, is considered an African state.
The African Union (AU) is a continental union of 55 member states [6] [7] located on the continent of Africa. The AU was announced in the Sirte Declaration in Sirte, Libya , on 9 September 1999, calling for the establishment of the African Union.
Terms include free port (porto Franco), free zone (zona franca), bonded area (US: foreign-trade zone), free economic zone, free-trade zone, export processing zone and maquiladora. Most commonly a free port is a special customs area or small customs territory with generally less strict customs regulations (or no customs duties or controls for ...
Island states are also members of the AU, but not the offshore islands that are integral parts of the transcontinental countries of France, Italy, Portugal, Spain, United Kingdom and Yemen. The 55 member states are grouped into five regions. The African Union is composed of fifty-two republics and three monarchies. The total population of the ...
This incorporates countries south of central and eastern Africa, and north of the South African border. The region has support from the most developed economy on the continent from the south, and access to capital coming out of South Africa as large companies look to expand into the rest of the continent.